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Investing.com - Piper Sandler raised its price target on Oxford Nanopore (LON:ONT) (OTC:ONTTF) to GBP1.90 from GBP1.50 while maintaining an Overweight rating on the stock.
The research firm noted that Oxford Nanopore reported results consistent with its half-year trading update, with price serving as a tailwind in the first half of the year, a trend expected to continue in the second half.
Piper Sandler highlighted that Oxford Nanopore’s performance has significantly outpaced competitors in the sequencing sector and peers in single cell and proteomics markets, despite similar exposure to academic budget constraints.
The firm attributed this outperformance to Oxford Nanopore being "in the midst of an adoption cycle" for its technology, which it described as "the most disruptive technology in sequencing" that enables "decentralized, ultra long read, ultra rapid runs."
Piper Sandler suggested the company’s technology will create new markets in previously untapped areas for sequencing, making the stock suitable for both near-term and long-term investors.
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